Calls for clarification over foundations plan - Herald Scotland

A HOLYROOD committee has called for safeguards to be put in place to protect the financial interests of Scotland's colleges.

A report by the Public Audit Committee called for "clarity" from the Scottish Government on how new arms-length foundations will operate.

Under current plans, colleges are transferring money that was previously held as surpluses into charitable foundations.

The move follows the UK-wide reclassification of further education colleges as public bodies.

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